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Automotive Radar Market 2018 Companies – Hella, ZF Group, Valeo, Infineon Technologies, Continental, Denso, Delphi, Autoliv

10-10-2018 01:41 PM CET | Media & Telecommunications

Press release from: Global Market Insights, Inc

Automotive Radar Market

Automotive Radar Market

Automotive Radar Market to reach USD 8.98 billion by 2024; according to a new research report by Global Market Insights, Inc. High frequency radar systems in the 79GHz band tend to perform better than the standard 24 GHz and 76 GHz bands as they offer greater capability and reduces device size. Sensing technologies enable lane keeping, driver assistance and forward collision warning alerts. Additionally, they constitute for advanced systems such as automatic emergency braking.

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Germany automotive radar market size was valued is forecast to exceed USD 500 million by 2024. Existence of major automobile manufactures in the region will drive growth prospects.

Based on application, adaptive cruise control (ACC) system accounted for more than 30% of the automotive radar market share in 2015. Increasing demand for ACC attributed to its function of effective monitoring and maintaining safe distance between the vehicles that assist in reducing road fatalities. Blind spot detection (BSD) segment is expected to cross 15% CAGR during the forecast timeframe. BSD facilitate driver to detect any vehicle or obstacle which are not visible in rear view mirror.

Industry Growth drivers:

1 Consumer need for safety
2 Enhanced automobile safety ratings
3 Growing sales of luxury cars

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

1. Analog Devices
2. Autoliv
3. Continental
4. Delphi Automotive LLP
5. Denso Corporation
6. Fujitsu
7. Hella
8. Infineon Technologies
9. NXP
10. Robert Bosch
11. STMicroelectronics
12. Texas Instruments
13. Valeo
14. ZF TRW Automotive

Automotive Radar Market, By Application

• Adaptive Cruise Control (ACC)
• Blind Spot Detection (BSD)
• Lane Departure Warning System (LDWS)
• Parking Assistance (PA)
• Forward Collision Warning System (FCWS)

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ACC (adaptive cruise control) accounts for 34% of the automotive market share and is expected to grow at 17.7% from 2016 to 2024. The capability of monitoring as well as maintaining user-specified gap between the vehicles will surge demand.

Growth in Asia pacific is led by countries such as India and China owing to increase in the manufacturing and sales of the vehicles in the region. China is expected to acquire about 45% share of the total Asia Pacific region. Europe automotive radar Market will exhibit increased adoption with maximum contribution by Germany owing to presence of majority of vehicle manufacturers in the region.

North America is estimated to acquire substantial share owing to high adoption rate of advanced technology product and manufacturing facilities of established automobile companies in the region. Initiative taken by Federal Motor Carrier Safety Administration (FMCSA) to reduce occurrence of accidents of commercial motor vehicles is driving the demand for safety features in cars. It aims to facilitate, evaluate and test the on-board safety applications in co-ordination with the truck industry.

Browse Report Summery @ https://www.gminsights.com/industry-analysis/automotive-radar-market

Favorable government initiatives that mandate the incorporation of safety and control systems into automobiles to reduce the number of road accidents and related casualties will drive demand. Growing sales of motor vehicles, especially luxury cars have significantly spurred revenue growth. Economic factors such as low interest rates and rise in disposable income have positively contributed towards increase in auto sales. Introduction of advanced driver assistance systems (ADAS) in passenger cars could offer significant growth opportunity for the automotive radar market size.

Sensor manufacturers establish relationships with several wafer foundries, test and assembly subcontractors to enhance cost effectiveness and provide flexibility in meeting the manufacturing needs.

Key automotive radar market players are NXP, Infineon, and STM. Other major players in the industry include Valeo, ZF TRW Automotive, Texas Instruments, Hella, Robert Bosch, Fujitsu, Delphi Automotive, Denso, Autoliv, and Continental.

About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Contact Us:

Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone:1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Web: www.gminsights.com/

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